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Exxon’s Money or Your Life: Immoral Capital is Still in Charge

What makes the majority of politicians most uncomfortable about Bernie Sanders is not that he is a “democratic socialist” (Notice, they usually leave out the “democratic” part.) Most do not understand the concept anyway. They just find the word an easy target for the personal derision of Bernie, the disheveled outsider who has remained an outsider working on the inside for decades.

What really disturbs the political and media elites about Bernie is that he is an authentic moralist. It is Bernie’s insistence on framing economic issues in moral terms that most offends the political “pragmatists” of whatever party persuasion. Unfortunately, in order to be accepted as a member of the Washington Establishment you have to give up any sense of personal morality in favor of platitudes and political “compromise” of moral principles.

American political culture sustains a powerful pretense of morality as it’s justification for the politics of the economic system. Economics itself stands firmly in the quicksand of magical thinking rooted in the consensual adulation of a simple phrase mentioned only a couple of times by the politically deified Adam Smith: “the invisible hand.”[1]

That magical thinking extends to the supposedly necessary and “natural” financial structure of an impossible economic objective: endless economic growth in a world of obviously finite resources.

Both the “invisible hand” and the perpetual growth machine are claimed – endlessly and with a straight face on CNBC – to offer the best and only solution to providing for the general welfare of humanity. Well, look at where that has got us. What is conveniently ignored or denied by our immoral economic system apologists is the completely unprecedented destruction it has wrought upon people and planet. The “business model” of immoral capital, simply put, is to extract maximum “value” from people, land and ecosystems, then leave the waste in its wake, looking for the next “resource” to plunder.

Unbounded Global-Scale Immorality

Hurricane Patricia, Category-5, about to make landfall south of Puerto Vallarta, 23 October 2015. Unprecedented.

The most egregious execution of the plunder capital business model must be the actions of Exxon’s executive decision-makers over the last four decades. In the 1970s, its own scientists had discovered the trend of global warming in Exxon’s internal climate research program. The Exxon scientists reported to their bosses that global warming would trigger climate destabilization. It has been known for awhile that Exxon has funded propaganda efforts at “climate denial” since global warming became a public concern. But the Big Lie was much bigger than anyone knew.

Recent investigative reporting by Inside Climate News and the Los Angeles Times, revealed the greater evil of Exxon. “As Croasdale’s team was closely studying the impact of climate change on the company’s operations, Exxon and its worldwide affiliates were crafting a public policy position that sought to downplay the certainty of global warming.”[2] Exxon executives knew from the 1970s on how fossil fuel burning was causing global warming and they knew from reports of their own scientists the highly probable catastrophic consequences that would have for the planet by destabilizing climate around the world. Yet their only concern was for the company’s operations.

In 1988 renowned NASA scientist James Hansen testified before the U.S. Congress, expressing concern about his findings from research on climate models he had begun over a decade earlier. He knew that only a small window of opportunity remained to change the course of energy production and consumption before the ultimate climate catastrophe could no longer be averted. Exxon had a moral choice. The executive “leadership” of Exxon chose the immoral strategy, risking the extinction of the human species in favor of its own corporate bottom line. If that is not a crime against humanity, then nothing is.[3]

Imagine the impact of Exxon’s prodigious scientific research and its massive databases collected on CO2 in the atmosphere and on global warming might have had on skeptical congressmen in 1988. Confirmation of Hansen’s analysis by Exxon’s large-scale empirical investigations might have spurred serious climate actions decades ahead of present-day fits and starts. Indeed, today, the continued faltering of climate-policy efforts is in part due to Exxon’s massive climate-denying propaganda effort. Exxon took the exact opposite of a moral path, the most evilof all possible paths. It launched the same propaganda strategy of denial that the tobacco industry previously used to sow seeds of doubt about the scientific facts of cancer caused by Americans’ tobacco use. Well, Big Tobacco was a piker compared to Big Oil.

Economic Justice Must Be Societal and Global in Scope

What if there existed an international court actually capable of meting out justice for high crimes against humanity committed by corporations and their executives? I would surmise that complete confiscation of every asset of Exxon and its subsidiaries would provide a minimal down payment for compensation to the people of the world. Incarceration for life with hard labor on projects designed to mitigate the damage they have wrought would be a minimal “punishment” for the decision-makers. Would that be sufficient punishment? Who cares? The planet is in a state of emergency that is still barely recognized for its urgency by political decision-makers. We need to apply all available resources to undoing as much of Exxon’s damage that we possibly can.

Of course the responsible executives must be punished. Past failures to hold bad executive actors to account for their crimes continue to encourage such behavior. We can afford no more of it. It is good to see that Bernie Sanders and others are pushing for a Justice Department investigation to determine if there is sufficient evidence of racketeering to prosecute the Exxon Offenders. No “expert consulting” form of “community service” sentencing for these guys – we don’t need them for that. Only hard physical labor on climate action projects will do. After all, that’s what the greatest victims of Big Oil have to do every day just to survive.

The haze of corporate propaganda and the fog of political oratory still form a thick ethical overcast that blankets the national consciousness. They project a false image that implies, “We’re taking care of this.” Meanwhile, profits and political corruption keep flowing right along with climate degradation.

A serious illusion blocking adequate climate action globally is the “debate” over responsibility between the “developed” and “developing” nations for funding and taking major climate actions. However, the sweep of history we call the Industrial Era demonstrates that it is a much simpler matter. Big Oil would prefer the “debate” continue while it reaps more profits from our doom.

The Earth is Warming…

China may be the world’s currently most prolific polluter. How much of its emissions come directly from Corporate America’s outsourced manufacturing? Well, nearly every product of U.S. corporations sold in the Big Box stores is made there. North America and Europe are the source of most of the total carbon emissions since the dawn of the Industrial Revolution two-hundred years ago. The total CO2 already emitted is the source of our growing current and near-term climate disruptions. All current and future emissions have to be drastically reduced (as in, to zero) to avert climate collapse. And who suffers most from past and current emissions? The non-industrial peoples of the equatorial regions that were most plundered for the materials to feed the industrial and economic growth machine, that’s who.

Immoral Capital Must Pay, Humanity Must Receive

The only moral solution is also the only viable solution that has a chance at slowing climate destabilization before it becomes irreversible. It is largely a matter of cause and effect. In fact, those who have gained the most economic wealth from the extraction, manufacturing, consumption, and waste of planetary resources must pay the most to reverse the headlong charge to species extinction (ours). It is quite simple: they have the money and they are responsible for the problem. The only viable solution, however, will not be an easy one. After all, the very corporate elite from which the money must be taken is protected by the political elite that has pandered to corporate criminality all along.

Those nations whose land, populations, and resources have been most plundered by these industrial processes and typically suffer most from the climate consequences, must receive support to “weather the storm” created by the industrial north. They must also find near zero-carbon paths to sustainable development – not growth – with that support. China, India, and to a much lesser degree a number of other developing nations must turn away from emulating the industrial nations and instead find sustainable paths to ecological economies. The industrial nations, for their part, must rapidly construct their own ecological economies from the remains of the disintegrating global-growth economy.

However, immoral capital is still in charge of the economies of the world. It is immoral capital that forced austerity on the Greek people to protect itself from the immoral actions of plunder capital (Goldman Sachs) and politics (former military ‘governments’ and their moneylenders). Immoral capital still attempts to make its victims pay for repairing the damage it has inflicted on the economies of its victims.

The institutionalized immorality of today’s capital is relentless and is bolstered by international political structures. However, Iceland provided the world a model for responding to attempts to force a nation’s people to take the punishment for the crimes of private bankers. The U.S. revolving-door Wall Street politicians did just the opposite, bailing out the criminal banks and brokerage houses and saddling the nation with unprecedented debt.

Corrupt politicians protect immoral capital by convincing the people that we must save “capitalism” from itself by “fixing” it. Congressional agents of the corporate elite try to convince the people that we need “market solutions” and “investment in technology” to save the planet by saving their doomed endless-growth economy. Nothing is thought to work unless it feeds the corporate pig.

To get a sense of the disconnect, just look at the world climate trajectory and species extinction rates today – it shows up in diverse research reports online from NOAA, NASA, and numerous university climate research centers, including the recent report by Stanford University researchers on the accelerating Sixth Mass Extinction. [4] Then look at CNBC and see the bulk of the business of immoral capital proceed as usual – a total disconnect. We must build ecological capital fast. You can fool many people for awhile, but you can never fool Mother Nature.
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[1] Adam Smith, The Theory of Moral Sentiments. (1759) Part 4: Utility’s Effect Upon Approbation. Chapter 1, and An Inquiry into the Nature and Causes of the Wealth of Nations (1776) Book IV, Chapter II. In his A History of Astronomy, written before The Theory of Moral Sentiments, Smith used the term to refer to “natural phenomena otherwise explainable.” As Joseph Stiglitz put it, “the reason that the invisible hand often seems invisible is that it is often not there.” See: https://en.wikipedia.org/wiki/Invisible_hand#Other_uses_of_the_phrase_by_Smith.
[2] Los Angeles Times, “What Exxon knew about the Earth’s melting Arctic,” by Sara Jerving, Katie Jennings, Masako Melissa Hirsch and Susanne Rust (Oct. 9, 2015). Accessed at http://graphics.latimes.com/exxon-arctic/ . Bill McGibbon’s article, “Exxon’s climate lie: ‘No corporation has ever done anything this big or bad,’” concisely describes Exxon’s treachery in The Guardian.
[3] Democracy Now! aired a good summary and discussion of the Exxon situation, including prospects for a Justice Department investigation on October 21, 2015. See: http://www.democracynow.org/2015/10/21/prison_for_exxon_execs_calls_grow
[4] See for diverse examples: http://www.noaa.gov/climate.html; http://climate.nasa.gov/evidence/; http://news.stanford.edu/news/2015/june/mass-extinction-ehrlich-061915.html, and http://advances.sciencemag.org/content/1/5/e1400253